NCB announces completion of issuing additional Tier 1 Sukuk

NCB announces completion of issuing additional Tier 1 Sukuk
NCB announces completion of issuing additional Tier 1 Sukuk

We show you our most important and recent visitors news details NCB announces completion of issuing additional Tier 1 Sukuk in the following article

Hind Al Soulia - Riyadh - JEDDAH — National Commercial Bank announced that it has now completed the offering of the Sukuk and the settlement of the Sukuk will be on 1441/11/09 (corresponding to 30/06/2020).

Issuance amount of the additional Tier 1 Sukuk denominated in Saudi Arabian Riyals is SR4.2 billion with total number of 4,200 (based on the minimum denomination and total issue size) and a par value of SR1 million with a return of 4.25% per annual.

The Bank mandated NCB Capital as sole book runner, lead arranger and lead manager for the private placement offer.

The Sukuk may be redeemed early due to a capital event, tax event or at the option of the bank as described in the terms and conditions of the Sukuk.

This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk.

Reference to the announcement from The National Commercial Bank published on the website of the Saudi Stock Exchange (Tadawul) on 1441/10/12 (corresponding to 04/06/2020), relating to the commencement to offer Additional Tier 1 Sukuk denominated in Saudi riyals by way of a private placement. — SG


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